Time Warner Cable (TWC) Stock Closes Up as Shareholders Approve Charter Deal

Time Warner Cable has told finance employees in Charlotte that their jobs could be affected by its upcoming merger with Charter Communications.

Brokerages expect Time Warner Cable (NYSE:TWC) to report earnings of $1.55 per share for the current fiscal quarter, Zacks reports.

Charter announced in May it intends to buy Time Warner Cable, and analysts have said the merger could bring local layoffs as the combined company looks to reduce costs. The shares have received a hold rating based on the suggestion from 11 analysts in latest recommendations.

Credit Suisse reiterated their outperform rating on shares of Time Warner (NYSE:TWX) in a report issued on Monday morning, MarketBeat reports. The 52-week low of the share price is $66.82. The stock now has a consensus rating of Buy and an average target price of $93.16. Company shares. In the past six months, there is a change of 0% in the total insider ownership. The firm has a 50-day moving average price of $74.48 and a 200 day moving average price of $83.07. The stock has a market cap of $53.63 billion and a PE ratio of 27.39.

Time Warner (NYSE:TWX) traded down 0.62% during trading on Tuesday, hitting $69.14.

On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, The officer (Executive Vice President), of Time Warner Inc., Melton Carol A had unloaded 12,088 shares at $85.75 per share in a transaction on March 18, 2015.

Time Warner Inc. (NYSE:TWX) is a media and entertainment company. Finally, Barrington Research reissued a buy rating and issued a $92.00 price objective on shares of Time Warner in a report on Monday, August 17th.

The Company offers its residential and business services customers video, high-speed data and voice services over its broadband cable systems.